Correlation Between Promotora and Grupo Financiero
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By analyzing existing cross correlation between Promotora y Operadora and Grupo Financiero Inbursa, you can compare the effects of market volatilities on Promotora and Grupo Financiero and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Promotora with a short position of Grupo Financiero. Check out your portfolio center. Please also check ongoing floating volatility patterns of Promotora and Grupo Financiero.
Diversification Opportunities for Promotora and Grupo Financiero
0.08 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Promotora and Grupo is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding Promotora y Operadora and Grupo Financiero Inbursa in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grupo Financiero Inbursa and Promotora is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Promotora y Operadora are associated (or correlated) with Grupo Financiero. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grupo Financiero Inbursa has no effect on the direction of Promotora i.e., Promotora and Grupo Financiero go up and down completely randomly.
Pair Corralation between Promotora and Grupo Financiero
Assuming the 90 days trading horizon Promotora y Operadora is expected to generate 0.88 times more return on investment than Grupo Financiero. However, Promotora y Operadora is 1.14 times less risky than Grupo Financiero. It trades about 0.09 of its potential returns per unit of risk. Grupo Financiero Inbursa is currently generating about 0.05 per unit of risk. If you would invest 18,089 in Promotora y Operadora on August 30, 2024 and sell it today you would earn a total of 547.00 from holding Promotora y Operadora or generate 3.02% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Promotora y Operadora vs. Grupo Financiero Inbursa
Performance |
| Timeline |
| Promotora y Operadora |
| Grupo Financiero Inbursa |
Promotora and Grupo Financiero Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Promotora and Grupo Financiero
The main advantage of trading using opposite Promotora and Grupo Financiero positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Promotora position performs unexpectedly, Grupo Financiero can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Grupo Financiero will offset losses from the drop in Grupo Financiero's long position.| Promotora vs. Grupo Profuturo SAB | Promotora vs. Corporacin Inmobiliaria Vesta | Promotora vs. Financiera Independencia SAB | Promotora vs. The Select Sector |
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Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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